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Carvana Opens Second Vending Machine in California
The new location, located in Ontario, Calif., stands eight stories tall and holds 27 vehicles.
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The new location, located in Ontario, Calif., stands eight stories tall and holds 27 vehicles.
The general managers will oversee locations in California, Oregon, and Canada.
Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
To increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace, Manheim is introducing flat-rate pricing for automatic post-sale inspections, providing dealers a hassle-free way to reduce their risks and help ensure vehicles bought at auction are in the expected condition.
Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
The vending machine, which will stand eight stories high and hold 30 vehicles, will be located in the Westminster, Calif., a city roughly 30 miles south of Los Angeles.
The award was established in 2016 and recognizes the charitable acts that auctions perform in order to encourage greater volunteer involvement.
The International Automotive Remarketers Alliance's current president, Tim Meta of Fifth Third Bank, will pass the gavel to Paul Seger, EVP, asset remarketing at Element.
John Brasher and Robert Sullivan will head ServNet's executive team and will assume leadership of the auction group on Jan. 1, 2020 after longtime ServNet CEO Pierre Pons steps down.
The average interest rate for a new-vehicle loan dropped for the third month in a row in July, hitting its lowest level of 2019, according to Edmunds.
Digital sales have grown 12% through the first six months of 2019, according to KAR Auction Services' 2019 second quarter earnings call.
ADESA has created a new role to direct and activate the team that develops relationships with its large-scale buyers and sellers.
Copart CEO Jay Adair stated that this new location is a strategic step in expanding the company's footprint in the state.
AFC, which is a business unit of KAR Auction Services Inc., has promoted Kyle Maurer to VP of operations for the East Division.
View photos from the 2019 Conference of Automotive Remarketing, which took place from March 25 to 27 at Caesars Palace Las Vegas.
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